Dish Network 1998 Annual Report Download - page 50

Download and view the complete annual report

Please find page 50 of the 1998 Dish Network annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 81

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81

ECHOSTAR COMMUNICATIONS CORPORATION
CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)
See accompanying Notes to Consolidated Financial Statements.
F–3
December 31,
1997 1998
Assets
Current Assets:
Cash and cash equivalents ................................................................................................................... $ 145,207 $ 106,547
Marketable investment securities ........................................................................................................ 275,307 217,553
Trade accounts receivable, net of allowance for uncollectible accounts of $1,347 and $2,996,
respectively ..................................................................................................................................... 66,074 107,233
Inventories............................................................................................................................................ 22,993 76,708
Other current assets.............................................................................................................................. 34,524 29,804
Total current assets................................................................................................................................... 544,105 537,845
Restricted Assets:
Insurance receivable (Note 3).............................................................................................................. –106,000
Interest escrow ..................................................................................................................................... 112,284 69,129
Satellite escrow and other restricted cash and marketable investment securities............................... 75,478 8,528
Total restricted assets ............................................................................................................................... 187,762 183,657
Property and equipment, net .................................................................................................................... 874,859 876,914
FCC authorizations, net ........................................................................................................................... 99,388 103,434
Other noncurrent assets............................................................................................................................ 99,532 105,002
Total assets...................................................................................................................................... $ 1,805,646 $ 1,806,852
Liabilities and Stockholders’ Equity (Deficit)
Current Liabilities:
Trade accounts payable ....................................................................................................................... $ 68,510 $ 90,646
Deferred revenue ................................................................................................................................. 122,707 132,982
Accrued expenses ................................................................................................................................ 101,478 184,470
Current portion of long-term debt ....................................................................................................... 17,885 22,679
Total current liabilities ............................................................................................................................. 310,580 430,777
Long-term obligations, net of current portion:
1994 Notes........................................................................................................................................... 499,863 571,674
1996 Notes........................................................................................................................................... 438,512 497,955
1997 Notes........................................................................................................................................... 375,000 375,000
Mortgages and other notes payable, net of current portion................................................................. 51,846 43,450
Long-term deferred satellite services revenue and other long-term liabilities.................................... 19,642 33,498
Total long-term obligations, net of current portion ................................................................................. 1,384,863 1,521,577
Total liabilities ................................................................................................................................ 1,695,443 1,952,354
12 1/8% Series B Senior Redeemable Exchangeable Preferred Stock, $.01 par value, 900,000 shares
authorized; 200,000 and 225,301 shares issued and outstanding, respectively; subject to
mandatory redemption on July 1, 2004 at a price of $1,000 per share plus all accumulated and
unpaid dividends.................................................................................................................................. 199,164 226,038
Commitments and Contingencies (Note 10)
Stockholders’ Equity (Deficit):
Preferred Stock (Note 7) ..................................................................................................................... 121,132 129,473
Class A Common Stock, $.01 par value, 200,000,000 shares authorized, 15,005,670 and
15,317,380 shares issued and outstanding, respectively ................................................................ 150 153
Class B Common Stock, $.01 par value, 100,000,000 shares authorized, 29,804,401 shares issued
and outstanding ............................................................................................................................... 298 298
Class C Common Stock, $.01 par value, 100,000,000 shares authorized, none outstanding ............ – –
Common Stock Warrants.................................................................................................................... 12 12
Additional paid-in capital.................................................................................................................... 226,462 231,617
Accumulated other comprehensive loss.............................................................................................. (19) –
Accumulated deficit ............................................................................................................................ (436,996) (733,093)
Total stockholders’ equity (deficit) .......................................................................................................... (88,961) (371,540)
Total liabilities and stockholders’ equity (deficit) .......................................................................... $ 1,805,646 $ 1,806,852